Loretta Has Two Jobs

question 86

Multiple Choice

Loretta has two jobs.She earned $130,000 from her first job and $20,000 from her second job.How much total FICA taxes will Loretta have withheld from her wages from working two jobs?

• A)$10,617.00
• B)$11,301.40.
• C)$11,434.40.
• D)$11,475.00.

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Definitions:

Pareto Optimal

An allocation of resources from which it is impossible to reallocate without making at least one individual worse off.

Utility Function

A mathematical representation that captures the level of satisfaction or happiness that consumers derive from consuming goods and services.

Initial Endowment

The original distribution of resources, wealth, or abilities that individuals or groups possess in an economic model.

Pareto Optimal

A state of allocation of resources from which it is impossible to make any individual better off without making at least one individual worse off.